WASHINGTON – US and Israeli attacks on Iran’s crucial Kharg Island, the country’s key oil export hubs, have shaken the global energy markets. Traders reacted immediately, sending crude and other energy prices soaring.
West Texas Intermediate (WTI) surged 2.79% to $115.55 per barrel, while Brent Crude climbed 0.37% to $110.18 per barrel. Not all oil grades followed the same trajectory; Murban Crude fell slightly by 0.37% to $118.64 per barrel, highlighting market uncertainty.
Latest Oil Prices
| Futures & Indexes | Last | Change | % Change |
| WTI Crude | 115.55 | +3.14 | +2.79% |
| Brent Crude | 110.18 | +0.41 | +0.37% |
| Murban Crude | 118.64 | -0.44 | -0.37% |
| Natural Gas | 2.861 | +0.050 | +1.78% |
| Gasoline | 3.327 | +0.019 | +0.57% |
| Heating Oil | 4.424 | +0.095 | +2.20% |
| WTI Midland | 122.36 | +2.85 | +2.38% |
| Mars | 125.34 | +1.59 | +1.28% |
| Opec Basket | 110.63 | +0.00 | +0.00% |
Refined fuels and natural gas mirrored the volatility. Natural Gas rose 1.78% to $2.861, Gasoline increased 0.57% to $3.327 per gallon, and Heating Oil surged 2.20% to $4.424 per gallon, reflecting fears of supply disruptions from the Persian Gulf. Meanwhile, the OPEC Basket remained stable at $110.63 per barrel, showing mixed market signals.
The spike echoes earlier tensions when U.S. President Donald Trump issued a 48-hour ultimatum to Iran, causing gasoline prices in the U.S. to rise by $4.10 per gallon, an extraordinary jump. Analysts now warn that attacks on Kharg Island could drive similar volatility worldwide, given the island’s role as a critical hub for Iran’s oil exports.
As markets reel from the news, investors are closely monitoring the situation, bracing for potential disruptions that could have lasting effects on global energy supply and prices.
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